SBP lowered its policy rate by 100bps and economists at Standard Chartered Bank now see the end-FY20 rate at 8% (9% prior) to account for this cut. USD/PKR is sitting at 158.900. Key quotes “The State Bank of Pakistan (SBP) lowered its policy rate 100bps to 8% on 15 May, in line with consensus expectations. We lower our end-FY20 (ending June 2020) forecast to 8% (9% prior) to account for this decision.” “Although we expected a further 200bps of rate cuts, we believed the next cut would come in July. SBP has said its cumulative easing of 525bps, since the crisis began, is the deepest of global central banks. We see further easing and maintain our end-FY21 forecast at 7%.” “Against weaker domestic demand and the sharp drop in global oil prices, SBP sees inflation averaging at the ‘lower end’ of its 7-9% projection for FY21; we expect 6.6%.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: The Brexit sage is having a growing impact on the pound FX Street 2 years SBP lowered its policy rate by 100bps and economists at Standard Chartered Bank now see the end-FY20 rate at 8% (9% prior) to account for this cut. USD/PKR is sitting at 158.900. Key quotes “The State Bank of Pakistan (SBP) lowered its policy rate 100bps to 8% on 15 May, in line with consensus expectations. We lower our end-FY20 (ending June 2020) forecast to 8% (9% prior) to account for this decision.” “Although we expected a further 200bps of rate cuts, we believed the next cut would come in July. SBP has said its cumulative easing of 525bps, since the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
